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1. The Government of India and the Asian Development Bank (ADB) have signed a USD 170 million policy-based loan to enhance India's health system preparedness for future pandemics. This loan aims to strengthen disease surveillance, multisectoral response, human resources for health, and climate-resilient public health infrastructure. The program aligns with India's National Health Policy 2017, Pradhan Mantri Ayushman Bharat Health Infrastructure Mission (PM-ABHIM), and National One Health Mission. Key initiatives include setting up laboratory networks for infectious disease surveillance, building robust data systems to monitor national health programs for vulnerable groups, and regulating standards for healthcare professionals. This comprehensive approach will enhance India's capability to respond effectively to future health crises.
2. The Codex Alimentarius Commission (CAC) is an international food standards body established in May 1963 by the FAO and WHO to protect consumer health and ensure fair practices in food trade. Recognized by the WTO’s Agreement on Sanitary and Phytosanitary Measures (SPS), it sets reference standards for international trade and dispute resolution. The CAC has 189 members, including 188 countries and the European Union, with India joining in 1964. Codex standards cover hygienic practices, labelling, contaminants, additives, and more. At the 86th session of the CAC's Executive Committee, India, represented by the FSSAI CEO, supported standards development for spices like cardamom, turmeric, and vanilla, as well as guidelines for vegetable oils and safe water use in food production. India also championed food safety guidelines for recycled materials in packaging. The FSSAI, established under the Food Safety and Standards Act, 2006, regulates food safety in India under the Ministry of Health & Family Welfare.
3. The Indian government has increased the windfall tax on domestically produced crude oil from Rs 3,250 per tonne to Rs 6,000 per tonne. A windfall tax is imposed on companies or individuals who gain unexpectedly large profits due to external factors, commonly in the oil, gas, and mining industries. This tax aims to capture a portion of these extraordinary profits for public benefit, promoting transparency and fairness in the energy sector. The hike will reduce the earnings of oil companies operating in India. India first implemented windfall profit taxes on 1st July 2022, following a global trend. Tax rates are reassessed every two weeks based on international crude prices from the preceding fortnight.
4. Researchers in France and Denmark have discovered zinc's critical role in legume crops. Zinc facilitates nitrogen fixation, which is essential for ammonia production and plant nutrition. It also acts as a secondary signal, managed by the transcription factor Fixation Under Nitrate (FUN), which regulates nitrogen fixation efficiency under varying environmental conditions. The findings suggest that zinc optimizes nitrogen availability in soils, potentially boosting crop yields and reducing reliance on synthetic fertilizers. This insight could enhance agricultural sustainability amidst climate challenges.
5. In June 2024, India's crude oil imports from Russia surged to 1.97 million barrels per day (mbpd), the highest since July 2023. This 15% month-on-month and 2% annual increase was due to fewer Russian crude exports to China, redirecting supplies to India. Both public sector companies like Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum, as well as private refiners like Reliance Industries, saw substantial imports, with private refiners importing a record 871,200 barrels per day. Conversely, imports from West Asian suppliers, notably Iraq and Saudi Arabia, fell significantly due to higher prices. Meanwhile, imports from the US continued to rise, reflecting shifting global supply dynamics amidst European refinery disruptions.